Econometrician

An econometrician is an economics expert who uses statistics and detailed mathematical equations to understand and predict situations. They analyse data about employment, supply and demand, inflation, company profits, and many other important economic topics. By applying rigorous statistical techniques to real-world data, an econometrician is able to produce highly accurate, objective results. Econometricians are employed in many settings, including government offices, real estate companies, consulting firms, and large corporations.

In most real-world situations, dozens or even hundreds of variables can contribute to the current economic state of affairs. Econometricians carefully identify and control as many variables as possible in an attempt to identify causal relationships. Using proven quantitative methods and careful equations, the econometrician can discover spending trends and explain hypothetical situations if one or more variables are changed. They can determine the relationship between two of the variables by utilizing a statistical technique called regression analysis. The professional gathers a large sample set of data, inputs values into a regression equation, and graphs the resulting points. The graph is used to predict how changes to one variable will affect a different, dependent variable. Post graduate qualifications are required in this field.